Agenda item

That having considered the Capital Programme Monitoring 2023/24 (month 9) report, the Committee confirms that there are no specific matters to be raised with Cabinet.

The Strategic Finance Managers presented the 2023/24 month 9 position for the revenue budget monitoring for the Council Fund and Housing Revenue Account (HRA) and the Capital Programme, prior to consideration by Cabinet.

Revenue Budget Monitoring

On the Council Fund, the projected year-end position was an operating deficit of £2.502m which was a favourable movement of £0.440m from the deficit position reported at month 8.  This would leave a year-end contingency reserve balance of £5.108m after the actual impact of pay awards and previously approved allocations.  As a result of the continued moratorium on non-contractually committed spend and vacancy management process, £1.548m of deferred and/or delayed expenditure had been identified at month 9.  Changes to approved budgets since month 8 were summarised along with significant variances, in-year risks/emerging issues and other tracked risks as detailed in the report.  The position on unearmarked reserves included an adjustment to the projected Council Tax balance which had been overstated at month 8.

On the HRA, projected in-year expenditure of £0.049m higher than budget would leave a closing un-earmarked balance of £3.148m, which was above the recommended guidelines on spend.

On the carry-forward request for Planning, Environment & Economy, Councillor Alasdair Ibbotson asked whether the Council could retain its ability to issue local by-laws or enforce previous ones in excess of the standards for Special Procedures.  Officers agreed to pursue a response from the portfolio.

The Chief Officer (Governance) responded to a question on the carry-forward request under his portfolio and suggested that further clarification be given in more detail in closed session prior to the next agenda item.  Finance officers confirmed that assumptions in the budget calculations were based on approval of both carry-forward requests.^[1]

The Chair referred to in-year risks and questioned the effectiveness of continued lobbying to Welsh Government (WG) on fairer funding.

On Out of County Placements, Councillor Christine Jones said that work being undertaken to address pressures in demand and market conditions was starting to make a positive impact over the longer term.

Councillor Paul Johnson gave assurance that robust representations continued to be made by Chief Officers and Cabinet Members and that progress was being made by the Fairer Funding Working Group.

On portfolio budgets, Councillor Bill Crease said that the approach to forecasting should be reviewed for service areas with overspends year on year.

Capital Programme Monitoring

The revised programme for 2023/24 was £92.859m taking into account all carry forward sums and savings transferred back to the programme.  Changes during the period were mainly due to the introduction of grant funding streams and budget re-profiling.  The projected outturn position totalled £91.049m leaving a £1.810m underspend recommended to be carried forward for the completion of schemes in 2024/25 as detailed.  The report detailed savings identified during the period and no additional allocations.  The overall funding position of approved schemes indicated a surplus of £2.312m prior to the realisation of additional capital receipts and/or other funding sources.

The second recommendation was moved and seconded by the Chair and Councillor Bill Crease.

RESOLVED:

That having considered the Capital Programme Monitoring 2023/24 (month 9) report, the Committee confirms that there are no specific matters to be raised with Cabinet.